Mon. PM KTFA News Articles from Iraq 4-10-23



Clare » April 10th, 2023

Kurdish deputy to / Nina /: We will vote on the budget before any other law


A member of Parliament for the Kurdistan Democratic Party, Sabah Sobhi, affirmed that no political bloc has the goal of obstructing the approval of the federal general budget.

He told the National Iraqi News Agency / NINA /: that all political blocs will finish reading, discussing and approving them as soon as possible, which will not exceed a month.

Sobhi added: We will vote on the budget before any other law in light of the urgent need for it as we approach the middle of the year.

And the House of Representatives had completed the first reading of the general budget, amid speculation that it will be approved during the next month.   LINK


Parliamentary Finance completes its discussions on the draft federal budget law


The House of Representatives announced, on Monday evening, that the Parliamentary Finance Committee has completed its discussions on the draft federal budget law, in the presence of the First Deputy Speaker of Parliament.   LINK

Iraq is on the way to achieving the second rank in the Arab world with the largest GDP growth in 2024


Baghdad today – follow-up  

Today, Monday, the World Bank expected that Iraq would achieve the second rank in the Arab world, with the largest growth of gross domestic product, during the year 2024.


And the bank stated in a report, followed by (Baghdad Today), that “Iraq’s gross domestic product is expected to grow during the current year 2023 by 2.8%, after it achieved a growth during the year 2022 of 7.9%.”

The report added, “It is hoped that Iraq will achieve a growth in the domestic product in 2024 by 4.4%, to rank second after Djibouti, in which the growth will reach 5.4%,” noting that “the growth of the GDP of Qatar For the same year it will be 2.9%, the Emirates 3.4%, and Saudi Arabia 3.3%, while growth will reach 4% for Egypt, 2.4% for Jordan and 3% for Tunisia.

The World Bank report indicated that it is expected that “the growth of per capita GDP in Iraq will also increase during the year 2024, by 2%, after it was 0.4% in 2023,” explaining that “the highest growth in per capita GDP The total in the Arab countries for the year 2024 will go to Djibouti at a rate of 4.2%, followed by the UAE at a rate of 3.4%.

According to the report, the bank’s experts said that “the growth of the Middle East and North Africa region in 2023 will increase by 3%, or 3.1% in 2024, as the World Bank expected, that the growth rate in capita GDP in 2023 will increase.” the region would increase in 2023.” to 1.6% and by 1.7% in 2024.

The “gross domestic product” gives a general idea of the economic growth of a country, and this growth is usually accompanied by an increase in employment opportunities and an increase in wealth, but this criterion does not include whether the growth is sustainable or temporary, and whether it will cause economic damage in the medium term or the long term.

The gross domestic product is a purely physical indicator, and it is not possible to measure the quality of life in a particular country, or the extent of happiness and comfort of the population, just as this indicator does not take into account the environmental standard and the negative consequences of economic activity that will cost a lot of money in the future.   LINK

Source: Dinar Recaps


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